As a BHPH dealer, you’re aware that when customers come to you with low credit ratings, reporting their accounts to the three main credit reporting bureaus is an important thing you can do to assist them with building a stronger credit rating. You may have questions when getting started, such as: which bureau has a minimum number of accounts to accept your reporting file and how to get your information into the acceptable format to send.

Regarding the minimum requirements, only Experian has no minimum for the number of accounts you can report through their automated upload. Transunion has a minimum of 100 accounts, and Equifax has a minimum of 500 accounts.

Regarding the required reporting format, it’s called the Metro II format, and there’s a huge binder you can read to put all of those accounts into the correct format, or you can let Deal Pack handle it for you. We have the ability to gather the data from your system, format it appropriately, so you can simply upload to the bureau you are signed up with to report to.

So, to recap: after you’re signed up to report credit, and the actual file is built, you can run a Deal Pack analysis report on the file to help you find and fix any accounts that have missing data, so you can get those taken care of before you send off the file, and you’re customers will be thanking you for helping them rebuild their credit!